Crypto colonists brand Balaji’s Network School fees ‘sketchy’

Applicants to Balaji Srinivasan’s secretive Network School have described entry requirements as “dodgy” and a “bridge too far” after being told they had just two days to pay their first month’s rent in advance despite not knowing the school’s location.

The Network School is a new tech bro concept from the former Coinbase CTO that forms part of his proposed “decentralized,” online-based country called the Network State.

The Network State is described by Srinivasan as “a highly aligned online community with a capacity for collective action that crowdfunds territory around the world and eventually gains diplomatic recognition from pre-existing states.”

Within this, the purpose of the Network School, he says, is to “revitalize democracy for the internet era,” and to “pursue truth, health, and wealth by leveling up our attendees personally, physically, and professionally.”

Successful applicants are expected to cough up $1,000 a month to bunk with someone else and $2,000 for a private room. However, for some, this was too much for what was at the time a leap in the dark.

One prospective student told WIRED that sending the money without knowing key details was “a bridge too far.”

“I chatted about it with some friends, and they were like, ‘Wow, that sounds so dodgy,’ they said. “Then I was like, ‘Yeah, you’re right.’”